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The Singapore Market this Week

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Although we don’t believe in timing the market or panicking over market movements, we do like to keep an eye on changes – just in case they’re material to our investing thesis.

The Straits Times Index (SGX: ^STI) ended the week at 3,311 points, up 0.5%, or 17 points, over the previous week’s close of 3,294 points. It’s the highest the index has closed at over the past 14 months, according to local news publication The Straits Times.

Out of its 30 constituent shares, 19 finished in the green; Global Logistic Properties (SGX: MC0), the leading provider of modern logistics facilities in China, Japan and Brazil, was one of the best performers with its shares up 3% to S$2.76 for the week. Meanwhile, four other bluechips were flat with the rest ending the week in losses. The conglomerate, Jardine Strategic Holdings (SGX: J37), was the biggest loser as it slipped by 1.7% to US$35.95.

Global Logistic Properties announced on Thursday that it had signed two new lease agreements totalling 23,000 square meters with two leading third-party logistics providers in China.

This week saw a heart-breaking catastrophic incident that triggered a global outrage. Malaysian Airlines’ Flight MH17 crashed in Donetsk, Eastern Ukraine, killing all 298 passengers and crew on board. Some news sources have pointed out that Pro-Russian rebels in that part of Ukraine might be the culprits who have used Buk anti-air craft missiles to bring down the civilian aircraft.

One of the shares that was affected by the calamity was Food Empire Holdings  (SGX: F03). It is a food and beverage company which counts Russia and Ukraine as its major markets.  At one point, it was down as much as 4% from last Friday’s close before recovering to close 1.3% lower. It ended the week at S$0.38.

The STI is currently selling at 14 times its historical earnings and sports a market capitalisation of S$541.2 billion.

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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. Motley Fool Singapore contributor Sudhan P doesn’t own shares in any companies mentioned.